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” impact: IMF
WASHINGTON, Sept 24, 2007 (AFP) – The turmoil stemming from the US subprime property loan market and tighter credit will have a “far-reaching” impact on the world economy, the International Monetary Fund said Monday.“Downside risks have increased significantly and even if those risks fail to materialize, the implications of this period of turbulence will be […]
Spacious nuclear-proof missile base as your new home
WASHINGTON, Sept 24, 2007 (AFP) – Looking for a new home with a bit more space as well as a 1950s Cold War ambiance? A US intercontinental ballistic missile base, equipped with a vast underground network of tunnels and rooms but no atomic warheads, is for sale in a remote corner of the United States. […]
European Central Banks concerned over French budget deficit
PARIS, Sept 23, 2007 (AFP) – European Central Bank head Jean-Claude Trichet said Sunday that France’s public finances were in “very great difficulty” with the worst public spending to output ratio in the European Union. “I would say that French public finances are in very great difficulty,” Trichet said in an interview on Europe 1 […]
Greenspan bashes Bush, defends own record
WASHINGTON, Sept 23, 2007 (AFP) – Former Federal Reserve chairman Alan Greenspan said Sunday the US economy has a better than evens chance of beating a recession but warned that a housing slowdown could hit spending hard. “We’re heading for a slowdown,” he said on NBC in the latest television appearance to publicize his new […]
India win Twenty20 title after rousing finale
JOHANNESBURG, Sept 24, 2007 (AFP) – Mahendra Singh Dhoni’s young Indian team snatched the inaugural Twenty20 world title after defeating arch-rivals Pakistan by five runs in a thrilling final on Monday.Pakistan all-rounder Shahid Afridi was declared the player of the tournament despite falling for zero in the final. The Indians, restricted to 157-5 after electing […]
Heavy battles in Sri Lanka claim 27 lives: military
Sept 24, 2007 (AFP) – Heavy fighting between security forces and Tamil rebels in northern Sri Lanka has left at least 27 people dead, military officials said Monday. The LTTE lost at least 20 men in pre-dawn clashes Monday on the Jaffna peninsula, according to the defence ministry. Another three Tigers were killed in the […]
Reach Out
Sept 23, 2007 (LBO) – Sri Lanka’s Central Bank governor Ajith Nivard Cabraal has urged the banking community to reach out to the rural poor saying the move would not only help impoverished farmers but enrich the banks themselves. The government and the banking community should aim to improve financial inclusion for vulnerable sections and […]
‘ Wi-Fi dreams fading fast
WASHINGTON, Sept 23, 2007 (AFP) – Ambitious plans for big Wi-Fi networks to provide free or low-cost wireless Internet access are being abandoned or scaled back by US cities as the economics of the deals turn out to be more challenging than expected. San Francisco and Chicago in recent weeks abruptly halted plans to set […]
‘s Chery group matures into global auto player
WUHU, China, Sept 23, 2007 (AFP) – China’s Chery Auto sales vice president Jin Yibo remembers when the roof in the president’s office had a leak so big that they had to put out buckets to collect the water. “Those were tough times,” said Jin, shaking his head in disbelief as he recalled Chery’s humble […]
From India to Indjija — Serb town in IT park deal
INDJIJA, Serbia, Sept 23, 2007 (AFP) – Goran Jesic, a young mayor with a reputation for investment coups, will sign a deal this week with an Indian company to build an IT park here, yet another win for this tiny Serbian town already hailed as an “economic miracle.” Jesic is confident the project for the […]